Wednesday's Personal Finance stories

With more than a decade's worth of job gains wiped out in the current economic meltdown, it's not surprising that so many workers today feel queasy about their career prospects. And if you happen to be an older worker, the apprehension is only multiplied.

Despite demographic trends that will make older workers a powerful force in the years to come, few companies yet realize the value of creating an experience-friendly workplace. Many have cut costs by going to their oldest employees with buyouts, early retirements and other inducements to unload their higher-priced talent.

But some U.S. employers get it. They already have in place programs, benefits and work arrangements designed to appeal to older workers, and they believe their employee base is much the better for it. The best of those employers get recognized by AARP each year, which hopes that publicizing these pioneers will speed what many believe is the inevitable transformation of the American workplace.

Yes, older workers can cost more than whippersnappers. But in the right environment, they can also be much more productive and savvy, making them worth the investment.

-- Steve Kerch, assistant managing editor/personal finance

CAREERS

AARP's top firms for those 50 and older emphasize workplace flexibility, health

With 14.9 million Americans out of work and the unemployment rate at a 26-year-high of 9.7%, plenty of people are happy simply to have a job, never mind any special perks. But even in this economic downturn, the companies on AARP's list of top 50 "best workplaces" for people over 50 go a long way to make life a little easier for their workers. See Retirement Living.

More workers seek jobs with social impact

Now that the financial system has been rocked to its core, "social capital" is getting a lot of buzz. But what is it? It boils down to putting your efforts into jobs with a socially positive impact, connecting money with meaning and investing with those principles in mind. See full story.

How to make employers want you

Most people in the job market today would consider themselves lucky to get a single offer. Receiving multiple offers sounds like a dream, but for some, this scenario is very real. They are the candidates everyone wants. See full story.

Who's driving the school bus?

Who's driving your kids to school? More school districts are hiring out the work due to budget cuts, and MarketWatch's Steve Potisk says that makes these school bus companies almost recession-proof. Listen to Audio Report.

RETIREMENT SAVINGS

Why do investors sit tight in 401(k)s?

Roth 401(k) to Roth IRA transfer a sound move

Can I make a $23,000 Roth 401(k) contribution this year, and then later in the year roll the balance into my Roth IRA? Or do I first have to take a required minimum distribution for 2009? My Roth 401(k) balance on Dec. 31, 2008, was zero. See full story.

INVESTING

Out-of-favor stocks grab fund manager's attention

Portfolio diversification can reduce the risk of one bad stock torpedoing a portfolio. But mutual fund manager Charlie Bobrinskoy is having none of that. See The Stockpickers.

Value manager not betting on hope

Bill Clinton famously said in 1992 that he still believes in a place called "hope," but when it comes to picking stocks in 2009, Paradigm Value Fund portfolio manager Jason Ronovech thinks hope is overrated. See full story.

Some funds stop grading on the curve

Last year, a typical investment portfolio of 60% stocks and 40% bonds lost roughly a fifth of its value. Standard portfolio-construction tools assume that will happen only once every 111 years. With once-in-a-century floods seemingly occurring every few years, financial-services firms ranging from J.P. Morgan Chase & Co. to MSCI Inc.'s MSCI Barra are concocting new ways to protect investors from such steep losses. See full story.

More investors try option play

Most investors are hoping stock prices push higher. The short-sellers want stocks to sink lower. And then there is Marlene Sackheim: She hopes the market goes nowhere. See full story.

Oil refiners may never see good times return

When the recession ends, and if gasoline prices don't fall significantly, will buyers line up once again to buy giant SUVs and V8-powered sports sedans? Don't bet on it. And that's bad news for the already-depressed shares of U.S. oil refiners. See full story.

TAXES

Capital-loss limit unlikely to change

For as long as I can remember, there has been a limit on the amount of capital losses you can claim each year ($3,000). Do you see a change to the amount that will be allowed this year? See full story.

CONSUMER

Consumer credit down record amount in July

U.S. consumers sharply reduced their debt in July, posing another threat to the nascent recovery, the Federal Reserve reported Tuesday. See Economic Report.

HEALTH CARE

Reich talks health-care reform

Former Clinton administration Labor Secretary Robert Reich discusses how this year'e health reform is shaping up and how it compares to efforts 16 years ago, and why he believes a strong public plan is critical. Watch Video Report.

MORTGAGES

Mortgage applications jump 17% last week: MBA

A drop in interest rates caused mortgage applications to surge a seasonally adjusted 17% last week from the previous week, the Mortgage Bankers Association reported Wednesday. See full story.

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